Bitcoin 101 – How To Get Started 2019

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You’ve heard about BItcoin.  Maybe a friend or family member has said over and over “You have to invest in Bitcoin!” But no matter what you hear, it’s not really clear to you what it is or why people are making such a big deal about it.

Today is your lucky day.  After you spend just a few hours, reading and/or listening to the resources in this post, you”ll finally start understanding why Bitcoin is important for you and your family.

As they say, “fortune favors the prepared mind.”

What you’ll discover here will save you time and increase your optimism about your future.  You won’t have to spend hours on end surfing the Internet trying to find credible and easy-to-understanding sources of information. And once you spend just a few hours investing in yourself learning about cryptocurrency, you’ll feel more confident and optimistic about the possibilities that are available to you. .

There is a lot of noise out there that you need to be aware of. Mainstream media is not doing a good job of educating people about Bitcoin. Reporters who are very confused about Bitcoin themselves incite fear and suspicion about the cryptocurrency.  Even some experienced investment managers are in the dark and say it’s a scam.

It’s common in human nature to fear, or at least be suspicious, of what we don’t understand.  But ignorance doesn’t make something a scam. 

Given that cryptocurrency is going to revolutionize the world even more than the Internet did, you owe it to yourself and your family to learn about it before passing judgment!    

Cryptocurrency is the future. Governments, major banks, tax authorities, stock exchanges, and even central banks are moving towards crypto. 

Invest in your future and learn the fundamentals about Bitcoin. Once you get at least a basic understanding of what Bitcoin is, then you can consider investing in Bitcoin.  If you decide to invest, invest for the long-term. Think of it as a savings plan that you will not touch for several years.  You can get started investing in Bitcoin with as little as a hundred dollars.

Whether you prefer learning by reading or listening, you’ll find resources that fit your preference. Enjoy!

I.  SOURCES TO READ

  1. Click here for a great introduction on Bitcoin by Ben Yu. While this extensive article is a bit dated, it still is a great introduction. You’ll get a good overview on the financial markets (including a review of the 2008 financial collapse), our economic and banking system, and gold.  Ben explains why Bitcoin is superior to gold.

If you want to go deeper into understanding Bitcoin, then you will want to read The Bitcoin Standard by Saifedean Ammous. You’ll discover the fascinating history of money and why Bitcoin can help societies prosper as they did in the days when gold was the foundation of our monetary system.  Saifedean explains what sound money is and the fundamentals of economic prosperity.  By the time you finish reading this book, you”ll know far more than what the average person understands about Bitcoin.

II.  SOURCES TO LISTEN TO

  1. Andreas M. Antonopoulos is a critically-acclaimed author, speaker, educator, and one of the world’s foremost bitcoin and open blockchain experts. This video provides a good introduction about why we need a decentralized currency–a new form of money.  You can find more of his videos on Youtube. .

Max Keiser and Stacy Herbert, known as the “crypto couple,” were one of the first financial commentators to inform the public about Bitcoin shortly after the first Bitcoin was born in January of 2009.  In Bitcoin: The Genesis (Episode 1) , they interview cutting-edge thinkers to ask them “What is Bitcoin?”  Not only will you hear about different definitions of Bitcoin, you will also be introduced to some of the brightest minds in the space.  https://www.rt.com/shows/to-the-moon/457141-bitcoin-digital-currencies-revolution/.

If you want to learn what Bitcoin is from a programmer’s perspective, you’ll want to listen to Ivan on Tech.  This video is a good  introduction about Bitcoin and it provides technical information about Bitcoin.  Ivan can get techy, but he has a talent for teaching   Once you listen to Ivan on Tech, you”ll be tempted to watch his ongoing videos on YouTube to keep current on the fast-moving developments in the space. His energy is contagious!

 

III. HOW TO GET STARTED BUYING BITCOIN

One of the easiest ways to get started in buying Bitcoin is to use an exchange that allows you to buy Bitcoin by depositing U.S. dollars from your bank account  into an exchange. Once your bank transfers money from your account into an exchange, you can click a button to buy just about any denomination of Bitcoin.  Coinbase.com  is probably one of the easiest platform to use.  It is simple and guides the user step by step.  Coinbase.com allows you to start with as little as $100.

IV. HOW TO SAFEGUARD YOUR CRYPTOCURRENCY 

You will need to learn about hard wallets if you are serious about investing in Bitcoin.  Once you buy Bitcoin on an exchange, you will want to transfer your cryptocurrency to a hard wallet such as Trezor, Ledger or Keep Key.  A hardware wallet is a special type of bitcoin wallet which stores the user’s private keys in a secure hardware device.  Refer to the article above by Ben Yu to learn more about hard wallets and private keys.  And you can also do a YouTube search to find what Ivan on Tech teaches on “how to store your crypto using hard wallets.” An important mantra in the space is “If you don’t own your private keys, you don’t own your cryptocurrency.”

In this post, I have introduced you to some of the brightest minds in the industry who are passionate about Bitcoin, talented in teaching and enthusiastic about helping people worldwide learn about the world’s first decentralized currency.

No doubt you will expand your network of friends, once you immerse yourself in cryptocurrency.  Welcome to the Bitcoin world!

 

Disclosure: The information presented is for educational purposes only and is not financial advise. Always do your own research before making any investments.